An Ohio promissory note is a written promise by a borrower to repay money to a lender, usually with interest. Ohio law lets the parties agree in writing to interest at a rate not exceeding eight per cent per annum payable annually, with exceptions.[2] You can fill out the Ohio promissory note template below online or download it as a PDF.
Last Updated: October 2026. This guide is reviewed and updated regularly to reflect current Ohio law. If you notice an error or outdated information, please contact us.
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Usury laws limit the interest a lender may charge. In Ohio, the parties to a promissory note may stipulate in writing for interest at any rate not exceeding eight per cent per annum payable annually, except as division (B) of the section authorizes. Section 1343.01 of the Ohio Rev. Code Ann. states the rule.[2]
The parties to a bond, bill, promissory note, or other instrument of writing for the forbearance or payment of money at any future time, may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually, except as authorized in division (B) of this section.
Four rules decide the interest on a promissory note.
Write the rate into the note itself, so both sides can see the number before they sign.
Ohio also limits when a lender may charge a penalty for paying a loan off early. No penalty may be charged for the prepayment or refinancing of a residential mortgage obligation of less than seventy-five thousand dollars that is made or arranged by a mortgage broker, loan officer, or nonbank mortgage lender.[1.2] The rule is written for residential mortgage obligations of that kind.
The FormsPal template itself says the borrower may prepay the note at any time, in whole or in part, without notice and without any penalty or premium.
| Document Name | Ohio Promissory Note Form |
| Other Name | OH Promissory Note |
| Max. Rate | Eight per cent per annum payable annually if agreed in writing, with exceptions[2] |
| Relevant Laws | Ohio Revised Code, Section 1343.01 |
| Avg. Time to Fill Out | 10 minutes |
| # of Fillable Fields | 28 |
| Available Formats | Adobe PDF |
Popular Local Promissory Note Forms
Should you want to lend or borrow money, think about using a promissory note. It’s a simple legal document frequently used by companies and people in all states. Here are the state-level promissory note documents our visitors read about the most.
The Ohio promissory note template is a three-page PDF form for a loan between one borrower and one lender. It has 28 fillable fields for the loan terms, the interest rate, the payment schedule, the collateral choice and the signatures. You can complete it on screen, print it, and keep a copy for your records.
A secured note names collateral, which is property that backs the loan. An unsecured note names none. When the sum is large, many lenders prefer a secured note, because the collateral stands behind the repayment. A car or another asset the borrower owns is a common choice, as long as its value is in line with the amount borrowed.
Lenders often lend smaller sums to people they know well. In that case, an unsecured note is a common choice. If you mark the note secured, the template says the borrower will sign any further security documents the lender reasonably requests. It also says the borrower will not sell or further encumber the collateral until the note is repaid in full.
Agree the sum borrowed, the interest rate, the due day and the maturity date with the other party before you fill out the form. Then print two copies, so the borrower and the lender each keep a signed original. Keep a simple payment record next to the note, so it is easy to show what has been paid.
The Ohio promissory note PDF has 28 fillable fields. Work through it in order, from the date and principal amount to the two signatures. The six steps below follow the form, and each one shows an Ohio promissory note example filled in with sample entries.
The screenshots under each step show the FormsPal Ohio promissory note template filled with sample entries in blue, so you can see where each answer goes. The names, addresses, dates and amounts are examples only.
To fill in the downloaded PDF on screen, use our online PDF editor. For a general overview of the document and a template for every state, see our sample promissory note template.
These three questions cover what readers ask most about interest rates and usury on an Ohio promissory note. Every answer comes from the Ohio Revised Code sections listed under Sources below.
Ohio's general limit for a written note is eight per cent per annum payable annually, except as division (B) of section 1343.01 authorizes. A 30% rate is well above that limit. The limit has exceptions, including one for a note whose original principal exceeds $100,000.[2] Read section 1343.01 for your kind of loan before you rely on a higher rate.
Section 1343.01 sets an exception to the general interest rate limit when the original principal indebtedness stipulated in the note exceeds one hundred thousand dollars. The exception looks at the original principal amount of the note.[2]
Usury laws limit the interest a lender may charge on a loan. In Ohio, the maximum rate for a written note is eight per cent per annum payable annually, except as division (B) of section 1343.01 authorizes.[2] Three points shape that limit.
General information, not legal or tax advice.
